Monthly Archives: January 2013

E&O Insights: Differences Between Standard, Excess & Surplus Markets

This is an excerpt from an Insurance Journal article that I authored in the January 28, 2013 edition. “For as long as the insurance industry has been around, the excess and surplus (E&S) lines marketplace has served a vital role … Continue reading

Posted in Published articles | Tagged , , , , | Comments Off

Agents E&O pricing is on the rise – what should an agency do?

In the current “hard” market, there is no doubt that you are seeing increases in your various personal and commercial lines accounts. The extent of the increase will vary based on factors such as the account’s claims history, the carrier’s … Continue reading

Posted in Tips | Tagged , , , , , | Comments Off

Auto coverage issues involving separation / divorce

The following is an excerpt from an excellent article by Steven Plitt that appeared in the January 16th issue of Claims Journal. “Coverage questions arise in automobile liability where family members, as additional insureds, are living apart from the household … Continue reading

Posted in Tips | Tagged , , , , | Comments Off

Could your insurance agency be sued by a bank?

You have no doubt issued more than a few binders in connection with house closings or other types of real estate transactions. Assuming that the coverage is kept in force, the problems or issues that could arise are somewhat minimized. … Continue reading

Posted in Tips | Tagged , , , , | Comments Off

Be alert for changes in your insurance carrier’s underwriting guidelines

In a recent polling question posed on Agents of America (www.agentsofamerica.org), the question was posed relating to changes in the underwriting guidelines of insurance carriers. Typically, these types of changes become more common as the market hardens. The responses clearly … Continue reading

Posted in Tips | Tagged , , , , | Comments Off

Are your insurance producers honoring their obligation to the customer?

In virtually every state, there is a legal liability standard that producers (among other staff) are held to in the court of law. In most, if not all of the states, one of those standards states that an insurance producer … Continue reading

Posted in Tips | Tagged , , , , , , | Comments Off

E&O Insights: Placing Business with New Markets? Proceed with Your Eyes Open

This is an excerpt from an Insurance Journal article that I authored in the December 17, 2012 edition. “New entrants into the insurance industry are often triggered by the market showing signs of hardening. After all, these “newbies” have a … Continue reading

Posted in Published articles | Tagged , , , | Comments Off

Is your insurance agency passing the Mirror test?

In reviewing some year-end E&O results, it certainly appears that carriers are seeing an increase in E&O claims arising from failure to provide the Mirror Test. What exactly is this? As customers have been looking for pricing reductions in recent … Continue reading

Posted in Tips | Tagged , , , , , | Comments Off

From an E&O standpoint, how did your insurance agency do in 2012?

As the NFL football season ended for my team (the Giants) last week, it seems that the media has focused this week on what changes are necessary to improve the team for the 2013 season. The media seems to assign … Continue reading

Posted in Tips | Tagged , , , , | Comments Off